Why will POTN most likely surpass its previous all time high of 0.95?
For the first time in 2 months POTN closed above the downtrend line that started October 15th and it did pretty convincingly. The reversal has already started with that and also multiple indicators confirming it. Volume is a "prove it" indicator and the past week of volume on the daily surely proves that there is significant buying pressure here.
Technicals aside, this is trading at 2x rev numbers right now, which is pretty low. I read the other day that they forecasted to do 22 million in sales this year. They already did 18 million as of Q3 and are on pace to beat that forecast by 2 million (most likely more since they added 400 retail clients in Q4).
Also take into account that they filed for the uplist, have had their numbers audited, settled half of their outstanding debt, and most importantly hemp is now at the finish line of being federally legal with just needing the president to sign the bill as the final process.
Why is hemp legalization beneficial to POTN? Hemp has been under prohibition for about 100 years now. This resulted in banks not being able to loan out to companies to provide a legitimate source of financing. POTN can now seek and obtain this if they desire (say goodbye to toxic debt!). Also this allows them to source the raw materials for their products at a cheaper cost, which improves their margins. Lastly it removes the stigma on the plant and any uncertainty by the consumer, which will increase sales!
I anticipate this stock to hit past its all time highs given the benefits of hemp legalization and other fundamental reasons. My personal target is $2.50. Good luck to all the longs and bulls!
Trust charts because charts do not lie
